Bitcoin Consolidates as ETF inflows Slow Down
Bitcoin’s price has stabilized between $121,000 and $122,000 after a volatile period. This crypto news update highlights Bitcoin’s current price range and future prospects.
Bitcoin’s price has found a pleasant zone between $121,000 and $122,000. After a period of wild price swings, the market is now consolidating. This stability comes as spot Bitcoin ETFs continue to attract significant investments, despite a slight slowdown.
BlackRock’s iShares Bitcoin Trust (IBIT) now holds over $95 billion in assets, showing strong institutional interest. For Bitcoin to regain its upward momentum, it needs to break above $125,000 to $128,000. If triumphant, it coudl aim for $130,000 to $135,000, with a potential peak at $140,000. However, if it fails to hold above $120,000, a drop to $115,000–$110,000 is possible.
Key points to watch:
- Bitcoin’s price is currently between $120,000 and $125,000.
- BlackRock’s IBIT shows strong institutional involvement.
- Breaking $125,000 could lead to higher prices.
Macroeconomic factors, like potential global rate cuts, are also supporting Bitcoin. However, the $125,000–$128,000 range remains a strong resistance. If Bitcoin can overcome this, it may see a significant price increase. Conversely, a drop below $120,000 could lead to further declines.
the near-term outlook is cautiously bullish. The market’s stability and strong underlying demand are positive signs.A sustained move above $125,000 would
